Investment Highlights

10-YEAR CORPORATE GUARANTEED NET LEASE TO FAST-GROWING TENANT
» 10-year corporate guaranteed net lease to Aspen Dental
» 10% rental increases every five years and in option periods
» Aspen Dental operates over 800 locations in 38 states

HIGH TRAFFIC LOCATION IN DENSELY POPOULATED AND AFFLUENT AREA
» Corner parcel location at signalized four-way intersection
» 60,000 AADT directly in front of the property
» 131,329 residents and $115,565 AAHI within a five-mile radius of the location
» Strong daytime employment due to housing density

IRREPLACEABLE INFILL LOCATION IN RICHMOND’S SECOND LARGEST RETAIL SUB-MARKET
» Within five miles of 14 major shopping centers (combined five million SF of retail space and 517 stores)
» Directly in front of Home Depot, Staples, and Petsmart
» Across the street from Target-anchored shopping center
» Adjacent to Johnston-Willis Hospital (292 beds, 1,160 employees)
» Walking distance of Chesterfield Towne Center mall, which features Macy’s, Sears, JC Penney, Barnes & Noble, HomeGoods, TJ Maxx, and many more national tenants
» Located in the second largest retail submarket in the Richmond metro, with over 7.2 million square feet of inventory

Property Description

SOLD

The property is prominently located at the signalized four-way intersection of Midlothian Turnpike and Carmia Way, with excellent visibility and access to 60,000 vehicles per day directly in front of the location. The site is supported by a large and affluent customer base of 131,329 residents within a five-mile radius of the location, with an average household income of $115,565. Five office parks are located within five miles of the property, contributing to the area’s strong daytime employment.

Visibility is increased by the site’s location in Richmond’s second largest retail submarket, with over 7.2 million square feet of inventory. The property benefits from being across the street from a Target-anchored shopping center and is within five miles of 14 major shopping centers with a combined 5 million SF of retail space and 517 stores. It’s within walking distance of Chesterfield Towne Center, which features Macy’s, Sears, JCPenney, Barnes & Noble, HomeGoods, T.J. Maxx, and many other national tenants. The site is also near Costco, the largest and highest volume wholesale club out of five wholesale club locations in Richmond. Additionally, the location is adjacent to Johnston-Willis Hospital, which features 292 beds and 1,160 employees.